Domsetic Mutual Funds + Insurance Ownership – Equities
We have already written on how FIIs have increased their exposure to Indian Equities. Mutual Funds and Insurance companies are OW on Staples and Utilities, UW on Energy and IT Services. MFs and Insurance have meaningful opposite view and positioning on Financials, Industrials, Materials and Healthcare.
MF Ownership – Mar-10 quarter did not witness any big shifts in the sector weights. Largest overweight position of Mutual funds were maintained in Industrials (+869bps) and Staples (+286bps). On the other hand, the biggest sector under weights were Financials (-449bps), Energy (-366bps), Materials (- 327bps) and (more…)
IRB reported Q4 revenues of Rs5bn (+56% y/y, +16% q/q, UBS est Rs5.8bn), EBITDA of Rs2.3bn (+92% y/y, +2% q/q, UBS est of Rs2.3bn) and PAT of Rs1.4bn (+236% y/y, +55% q/q, UBS est Rs1.1bn). Lower-than-expected toll revenues were compensated by higher construction margins. Higher reported PAT is due to accounting for MAT credit (Q4 tax is a positive Rs393m; PBT is Rs1.1bn; this credit will be 
Indian hospital stocks have outperformed the market in the past six months (up 60% vs. 17% for Sensex) on the back of newsflow on acquisitions and a better-than-expected earnings profile for the sector. The long-term growth story still looks attractive, with demand outstripping supply however, in the near term valuations have overtaken fundamentals. Lets look into Apollo Hospitals and Fortis Helathcare stocks for Long Term Investment.